Fredericton-based eChart Healthcare, whose technology improves communication in long-term care facilities, has raised an $800,000 funding round that includes $200,000 from the New Brunswick Innovation Foundation.
EChart has developed an innovative digital patient-charting system that simplifies the way long-term care facilities track the health of their patients. The cloud-based system allows the facilities’ staff and the patients’ family members to all receive pertinent information in real-time.
CEO Amanda Betts – whose family operates the Autumn Lee Retirement Home in Moncton – started eChart three years ago to solve the problem of communicating vital information to staff and family members.
“The best technology companies solve a clear and growing problem,” said NBIF Director of Investment Ray Fitzpatrick in a statement. “That’s what eChart Healthcare does very well with its digital charting system. The long-term care software market is expected to grow to US$5.6 billion by 2026. eChart Healthcare is well poised to succeed in this fast-growing market.”
The investment will support additional product development as well as sales and marketing activities.
The statement said Betts drew inspiration for the functionality of eChart Healthcare through her experience operating a senior care home.
The software she developed created a way for staff and families to receive information readily available at the point of care with real-time data on things like medication, vitals, meals, activities and even a mood tracker. That led to pilot projects with long-term care facilities and pharmacies, and now a seed investment round, said the statement.
Betts will present her company at the Atlantic Venture Forum in Halifax next week.
“Moving an aging parent or relative into a long-term care facility is never easy,” said Betts. “Our eChart platform is creating connected care that gives families and facilities access to all the important information about a loved one in a simple, easy-to-use way. This creates new efficiencies in care delivery and lets the staff of long-term care facilities focus their energies on caring for their residents.”